Bester and Strausz (2000) showed that the revelation principle of Bester and Strausz (2001) does not apply in a setting of many agents and no commitment. In their counterexample only one agent has private information. We show that if the parties can make ex ante transfers the revelation principle does extend to this setting. However, we show that it does not extend to a setting in which more th...

Abstract Transactions of any complexity between buyers and sellers are supported by long-term contracts these inevitably incomplete. We propose an approach for overcoming contractual incompleteness based on the idea that most people inclined to follow widely accepted social norms, such as being fair-minded acting with integrity. suggest this tendency can be reinforced if norms incorporated into...

Bu araştırmanın amacı, iş karakteristiklerinin bireysel performansı üzerindeki etkisini özellikle sağlık çalışanları açısından belirlemektir. Zor şartlar altında çalışan personelinin hangi performans türü üzerinde karakteristiğinin etkili olduğu önemli bir bilgidir. Araştırmada veri toplama yöntemi olarak anket tekniğinden yararlanılmıştır. Araştırma, kamu ve özel hastanelerden tesadüfi seçilen...

Research has focused on employee emotion regulation as a stable dispositional tendency. Yet effective and healthy requires flexibly choosing between different strategies in response to various workplace situational demands. In this study, we investigate the between- within-person differences of 83 frontline managers across 10 working days. Using affective events theory, examine managers’ use th...

We consider a Rothschild-Stiglitz-Spence labour market model and employ a centralised mechanism to coordinate the efficient matching of workers to firms. This mechanism can be thought of as operated by a recruitment agency, an employment office or head hunter. In a centralised descending-bid, multi-item procurement auction, workers submit wage-bids for each job and are assigned stable jobs as e...

This paper shows that models where preferences of individuals depend not only on their allocations, but also on the well being of other persons, can produce both large and testable effects. We study the allocation of workers with heterogeneous productivities to firms. We show that even small deviations from purely “selfish” preferences leads to widespread workplace skill segregation. That is, w...

We generate estimates of the costs of broad-based stock option programs under varying assumptions about why firms use these pay schemes. We show that, if accounting considerations alone drive option grants, a typical firm in our sample incurs between 50 cents and one dollar of real costs in order to increase reported pre-tax net income by $1. This cost is reduced, but is still quite substantial...

This paper studies the effect of product market competition on the explicit compensation packages that firms offer to their CEOs, executives and workers. We use a large sample of both traded and non-traded UK firms and exploit a quasi-natural experiment associated to an increase in competition. The sudden appreciation of the pound in 1996 implied different changes in competition for sectors wit...